Matson (NYSE:MATX) Coverage Initiated at JPMorgan Chase & Co.

Key Points

• JPMorgan initiated coverage on Matson with an "overweight" rating and a $230 price target, implying about a 33.6% upside from the stock's current level.
• Matson recently beat quarterly expectations with EPS of $4.60 versus $3.69 estimated and revenue of $851.9M, while trading at a PE of 12.35 and a market cap of roughly $5.24 billion.
• Analysts are mixed (three Buy, four Hold) giving a consensus "Hold" and $171 consensus target, and insiders have sold about $7.03M of stock in the past 90 days while owning roughly 2.51% of shares.

Analysts at JPMorgan Chase & Co. assumed coverage on shares of Matson (NYSE:MATX - Get Free Report) in a note issued to investors on Monday. The firm set an "overweight" rating and a $230.00 price target on the shipping company's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 33.56% from the stock's current price.

MATX has been the subject of a number of other research reports. Stephens increased their price target on Matson from $190.00 to $213.00 and gave the company an "overweight" rating in a research report on Wednesday, January 21st. Wolfe Research reiterated an "outperform" rating and issued a $167.00 target price on shares of Matson in a report on Thursday, January 8th. Wall Street Zen downgraded shares of Matson from a "buy" rating to a "hold" rating in a research report on Sunday, March 15th. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Matson in a research report on Monday, December 29th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $171.00.

Matson Stock Down 0.1%

MATX stock opened at $172.20 on Monday. The firm has a market cap of $5.24 billion, a PE ratio of 12.35 and a beta of 1.33. Matson has a 12 month low of $86.97 and a 12 month high of $180.21. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.89 and a quick ratio of 0.89. The firm has a 50 day simple moving average of $164.51 and a 200 day simple moving average of $137.41.

Matson (NYSE:MATX - Get Free Report) last posted its quarterly earnings results on Tuesday, February 24th. The shipping company reported $4.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.69 by $0.91. Matson had a net margin of 13.30% and a return on equity of 16.63%. The firm had revenue of $851.90 million for the quarter, compared to analyst estimates of $847.30 million. During the same quarter in the previous year, the business posted $3.80 earnings per share. The firm's quarterly revenue was down 4.3% compared to the same quarter last year.

Insiders Place Their Bets

In other Matson news, EVP John P. Lauer sold 8,603 shares of the company's stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $166.13, for a total value of $1,429,216.39. Following the transaction, the executive vice president owned 23,738 shares in the company, valued at approximately $3,943,593.94. This represents a 26.60% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Peter T. Heilmann sold 13,000 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $165.46, for a total transaction of $2,150,980.00. Following the completion of the sale, the executive vice president owned 32,679 shares of the company's stock, valued at approximately $5,407,067.34. The trade was a 28.46% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 42,550 shares of company stock valued at $7,034,602 over the last ninety days. Insiders own 2.51% of the company's stock.

Institutional Trading of Matson

Several hedge funds and other institutional investors have recently modified their holdings of MATX. Strs Ohio raised its stake in shares of Matson by 222.2% during the 1st quarter. Strs Ohio now owns 8,700 shares of the shipping company's stock worth $1,426,000 after purchasing an additional 6,000 shares in the last quarter. CHICAGO TRUST Co NA acquired a new position in Matson in the first quarter worth approximately $204,000. Pictet Asset Management Holding SA acquired a new position in Matson in the first quarter worth approximately $229,000. Louisiana State Employees Retirement System bought a new position in Matson during the first quarter valued at approximately $2,262,000. Finally, Blue Trust Inc. lifted its stake in Matson by 225.8% in the first quarter. Blue Trust Inc. now owns 909 shares of the shipping company's stock valued at $149,000 after acquiring an additional 630 shares during the last quarter. 84.76% of the stock is currently owned by hedge funds and other institutional investors.

About Matson

Matson, Inc NYSE: MATX is a U.S.-based provider of ocean transportation and supply chain logistics services with a focus on Pacific trade lanes. The company operates a fleet of container ships that regularly service Hawaii, Alaska, Guam, Micronesia and other Pacific islands, as well as mainland U.S. ports. Matson's ocean transportation segment offers scheduled liner services, expedited shipping options and specialized project cargo handling for industries ranging from retail to heavy machinery.

In addition to its core liner operations, Matson offers ocean transportation services between Asia and the U.S.

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